One of the great challenges for CEOs is to get a quick access to critical business information that allows them to make assertive decisions and contains reliable data to analyse investments and risks, anticipate scenarios, identify opportunities, and ensure full control of indicators, which define the good functioning of the company.
Undoubtedly, the digital age and the large volume of data that has emerged today has changed the way we do business and make decisions. Companies are faced with new challenges and opportunities in a volatile and challenging market.
Thus, technology provides opportunities for CEOs to streamline their processes, as well as make better decisions, optimize their business, generate more opportunities, analyse the performance of the various departments, know the competition and anticipate market trends, that is, information which is crucial for companies to remain competitive. It is up to the leader to prepare for this digital future and prepare teams for new decision-making methods, and the success of any organization will depend on how decisions are well founded and taken in the right time.
According to IDC in 2019, more than 50% of the 500 largest Portuguese companies will have a team dedicated to digital transformation. At the European level, the same study anticipates that two-thirds of CEOs have already put the issue at the centre of their business strategies, but only 17% of organizations in the region are already at an advanced stage of the digital transformation process.
Analytics and Big Data solutions have a strong impact on the CEOs role and work. This way, the leader has immediate access to all relevant operational data, that is, he can monitor operations in real time, which allows an immediate response to challenges, increased performance and greater involvement in all organizational processes.
It is essential for the CEO to have the “big picture” of the company’s performance and activity in the palm of the hand, to provide powerful and trustworthy insights in order to make assertive and intelligent decisions anywhere.